Kavak Raises $700M Series E Financing

September 22, 2021Client News

Gunderson Dettmer represented client Kavak, an online platform for buying and selling secondhand cars, in its $700 million Series E financing bringing the company’s valuation to $8.7 billion. The new capital serves as one of the largest venture financings ever done in Latin America, and makes Kavak the second most valuable startup in all of LatAm.

In the announcement of the transaction, co-founder and CEO of Kavak Carlos García Ottati said, “What excites me about this raise is a reflection of Kavak’s ambition we have and what we want to build, and less so about need. Most importantly, it’s going to allow us to think long term and build a true generational company.”

The Gunderson deal team was led by Daniel Green and Bradley Krack and included Thomas Malinowsky, André Lee, Daniel Gallo, Tanya Tarczynski and Brenden Glapion.